BDVL vs DFAW: Grades, Fees and Holdings Compared

iShares Disciplined Volatility Equity Active ETF

BDVLANasdaq

Dimensional World Equity ETF

DFAWANYSE Arca

Overlap

0.0%by weight

Expense ratio

DFAW −0.16pt a year

BDVL0.39%DFAW0.23%

Avg volume · 30D

BDVL 2.4×the volume

BDVL236KDFAW98.6K

BDVL vs DFAW Performance

Oct 31, 2025 – Oct 30, 2026

+9.6%BDVL+15.7%DFAW

Expense ratio: BDVL 0.39%; DFAW 0.23%, better
Fund size: BDVL $1.77B; DFAW $1.71B
1Y total return: BDVL +9.6%; DFAW +15.7%, better
Yield (12M): BDVL No data; DFAW 1.30%
Holdings: BDVL 423; DFAW 6
Avg volume (30D): BDVL 236K sh, better; DFAW 98.6K sh
NAV per share: BDVL $26.44; DFAW $82.88
52W range

ETF.net Grade

Pillar letters and Scores for BDVL, DFAW, with each pillar’s weight
Pillar	BDVL	DFAW
Cost30% weight	A79	A95Higher
Mission25% weight	Not scored	A100
Risk15% weight	A80Higher	A74
Tradability15% weight	B68	A83Higher
Holdings10% weight	A88Higher	D32
Durability5% weight	A93Higher	A79

Rank among Global Active Equity funds

How we build Categories ›

Same Category. BDVL and DFAW are both graded against the same 44 Global Active Equity funds, so their Grades compare head to head.

Global Active Equity⁠

Category · 44 funds

See all 44 ›

BDVL ranks 1st and DFAW 1st of 44 funds in the Global Active Equity Category.

Rank 1AAVTMAvantis Total Equity Markets ETF 1Score 79
Rank 1ABDVLiShares Disciplined Volatility Equity Active ETFScore 79
Rank 1ADFAWDimensional World Equity ETFScore 79
Rank 4AAVGEAvantis All Equity Markets ETFScore 78

Our read on each fund

ETF.net Research

BDVLAiShares Disciplined Volatility Equity Active ETF

DFAWADimensional World Equity ETF

In short

BDVL A global low-volatility fund with an active engine: a quant model picks roughly 500 stocks on low vol, quality and value, scored against MSCI's ACWI Minimum Volatility Index. Fee: 0.39% net of a waiver through June 30, 2028.

DFAW No data

Stated mandate

BDVL The Fund seeks risk-adjusted total return through active management of equity exposure, with a focus on managing volatility relative to the broad equity market.

DFAW No data

Why people hold it

BDVL Costs 0.39% net of a waiver through June 30, 2028, below the median fee among global active equity peers and under sibling fund BFLX at 0.40%.
Roughly 500 holdings worldwide, so no single stock runs the show. Its holdings build and risk profile rank among the strongest in its peer group.
Built to hold core equity exposure while leaning toward stocks that have shown smaller price swings than the broad market.ishares.com
Trading since 2017, a long life for an active equity ETF, and it has gathered billions from investors along the way.

DFAW No data

Worth knowing

BDVL A model, not an index, picks the names. Active discretion cuts both ways against the MSCI minimum-volatility benchmark it is measured by.
The low-vol tilt means lighter exposure to the market's most volatile high-flyers, which shapes how it behaves when those names run.
Cheaper active options sit in the same category: AVTM at 0.22% and AVGE at 0.23% deliver broad global equity without the volatility focus.

DFAW No data

Full BDVL profile⁠

Full DFAW profile⁠

BDVL vs DFAW Holdings

How BDVL and DFAW differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of BDVL and 0.0% of DFAW.

Level by level

Holdings0 in both0.0%
Countryby domicile85.3%
Sector11 Sectors86.6%
Asset classEquity100%

Sector

Sector weights in BDVL and DFAW, widest gap first
Sector	More in BDVLMore in DFAW	BDVL	DFAW
Consumer Discretionary	DFAW +4.8 points	4.6%	9.4%
Health Care	BDVL +4.6 points	13.6%	9.0%
Materials	DFAW +4.4 points	0.4%	4.8%
Industrials	BDVL +2.6 points	15.3%	12.7%
Utilities	BDVL +2.5 points	4.5%	2.0%
Real Estate	DFAW +2.2 points	0.0%	2.2%
Energy	DFAW +1.6 points	4.1%	5.7%
Consumer Staples	BDVL +1.6 points	6.4%	4.8%
Technology	BDVL +1.4 points	28.6%	27.2%
Communication	BDVL +0.6 points	7.0%	6.4%
Financials	DFAW +0.4 points	15.4%	15.8%

Country, concentration and asset class

Country by domicile

Country weights in BDVL and DFAW, widest gap first
Country	More in BDVLMore in DFAW	BDVL	DFAW
China	BDVL +3.7 points	5.4%	1.7%
Japan	BDVL +3.6 points	8.1%	4.5%
United States	DFAW +3.5 points	69.5%	73.0%
Canada	DFAW +2.1 points	0.0%	2.1%
Netherlands	BDVL +1.9 points	2.6%	0.7%
India	BDVL +1.7 points	2.8%	1.1%
South Korea	DFAW +1.5 points	0.0%	1.5%
Germany	BDVL +1.5 points	2.8%	1.3%
Other countries (31)	DFAW +5.3 points	8.8%	14.1%

Outside the US: BDVL 62% developed, 38% emerging. DFAW 69% developed, 31% emerging.

Concentration

Weight in the 10 largest Holdings

BDVL17.0%
DFAW100.0%

Securities held

BDVL401
DFAW5

Asset class

BDVL: Equity
DFAW: Equity

Holdings

Only in BDVL401
In both0
Only in DFAW5

Only in BDVL

401 securities, 100% of BDVL by weight

Asml Holding1.95%
Mastercard Class A1.88%
Microsoft1.73%
Amazon.com Inc1.33%
Progressive1.17%
Taiwan Semiconductor Manufacturing1.11%
Coca-Cola1.10%
Southern1.07%
Airbus Group1.02%
Howmet Aerospace1.02%
Visa Class A1.00%
Alphabet Class C0.98%
Deutsche Telekom N AG0.93%
Broadcom Inc0.92%
Salesforce0.90%
Keysight Technologies0.87%
Travelers Companies0.86%
Republic Services Inc0.86%
Duke Energy Corp0.86%
Meta Platforms Class A0.80%
Waste Management Inc0.80%
Costco Wholesale Corp0.80%
Motorola Solutions Inc0.79%
Bank of China Ltd H0.78%
Novartis AG0.77%
Autodesk0.77%
Vertex Pharmaceuticals0.76%
Gilead Sciences0.74%
Vertiv Holdings Class A0.73%
United Parcel Service Inc Class B0.73%
Northrop Grumman Corp0.72%
Cencora0.70%
Rolls-Royce Holdings PLC0.69%
Intel Corporation0.69%
S&P Global0.69%
NVIDIA0.68%
Steris0.67%
Elevance Health Inc0.66%
Honeywell International Inc0.66%
Trane Technologies PLC0.66%
Otsuka Corp0.64%
Occidental Petroleum Corp0.64%
Rwe AG0.62%
Exxonmobil Holdings Corp0.62%
Msci0.62%
Procter & Gamble0.61%
Verisign0.61%
Teledyne Technologies0.61%
Kroger0.61%
Lam Research0.60%

Only in DFAW

5 securities, 99.9% of DFAW by weight

Dfa Invt Dimensions53.92%
Dfa Intl Core Eqty 2 Etf18.21%
Dfa Us Core Equity 1 Etf17.92%
Dfa Em Core Equity 2 Etf8.29%
Dfa Gbl Real Estate Etf1.60%

Weight gaps

BDVL and DFAW share no securities.

All 514 BDVL holdings⁠All 6 DFAW holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BDVL vs DFAW Cost

Overpaying BDVL vs DFAW

$3,139

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

BDVL 0.39%
$7,898
DFAW 0.23%
$4,759

Amount$10,000

Years30 years

Cost over time

BDVL 0.39%
DFAW 0.23%
Overpaying

Year by year

Year	BDVL	DFAW	Overpaying
10	$705	$419	$286
20	$2,725	$1,630	$1,095
30	$7,898	$4,759	$3,139

Expense ratio

0.39%BDVL
0.23%DFAW, cheaper

DFAW0.23%BDVL0.39%

0.22%1.19%

Middle half of Global Active Equity funds
Median 0.69%

DFAW 2nd cheapest of 44 funds

BDVL 9th cheapest of 44 funds

BDVL vs DFAW Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BDVL No data; DFAW 1.30%
Payout (12M): BDVL No data; DFAW $1.08
Last payment: BDVL $0.22; DFAW $0.26
Ex-dividend: BDVL Jun 15, 2026; DFAW Sep 22, 2026
Paid on: BDVL Jun 18, 2026; DFAW Sep 24, 2026
Frequency: BDVL Twice a year; DFAW Quarterly

Distribution history

Per share, 2023 to 2026, same scale for both

BDVLTwice a year · 2 paymentsAll BDVL payments⁠

DFAWQuarterly · 12 paymentsAll DFAW payments⁠

BDVL vs DFAW Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: BDVL 8.7%since Oct 2025DFAW 11.8%
Return per unit of riskSharpe ratio, 3 years: BDVL 0.60since Oct 2025DFAW 1.37
Worst fallMax drawdown, 5 years: BDVL −7.7%since Sep 2025DFAW −16.9%since Sep 2023
Market sensitivityBeta, 5 years: BDVL 0.61DFAW 0.91; Market = 1

Popular comparisons

BDVLAvsAVTMA
iShares Disciplined Volatility Equity Active ETF · Avantis Total Equity Markets ETF 1
Expense ratio
0.39% · 0.22%
Category
DFAWAvsAVTMA
Dimensional World Equity ETF · Avantis Total Equity Markets ETF 1
Expense ratio
0.23% · 0.22%
Category
BDVLAvsAVGEA
iShares Disciplined Volatility Equity Active ETF · Avantis All Equity Markets ETF
Expense ratio
0.39% · 0.23%
Category
DFAWAvsAVGEA
Dimensional World Equity ETF · Avantis All Equity Markets ETF
Expense ratio
0.23% · 0.23%
Category
BDVLAvsBFLXA
iShares Disciplined Volatility Equity Active ETF · iShares Flexible Equity Active ETF
Expense ratio
0.39% · 0.40%
Category
DFAWAvsBFLXA
Dimensional World Equity ETF · iShares Flexible Equity Active ETF
Expense ratio
0.23% · 0.40%
Category